Zug, Switzerland based cloud computing blockchain startup has secured $102m in funding, co-led by Andreessen Horowitz and Polychain Capital.
An ambitious blockchain project called Dfinity wants to reinvent computing by replacing large platforms like Amazon Web Services and Salesforce with a cheaper, decentralized alternative. The project, which Dfinity dubs a “world computer,” took a step closer to being a reality this week. On Wednesday, Dfinity announced it raised $102 million from the prominent venture capitalist firm Andreessen Horowitz, the crytpo fund Polychain Capital and other investors. The new funding, which comes after Dfinity raised $61 million in March, will help build its vision of a blockchain-based “Cloud 3.0.” While the tech world is awash in blockchain projects, Chris Dixon of Andreessen Horowitz told Fortune that Dfinity is distinct because of the technical prowess of its team. Led by founder Dominic Williams, Dfinity claims to have made a number of breakthroughs related to scaling the blockchain and making it secure.